An attorney for Bank of America says 13.2 million customers may be eligible for a settlement in a lawsuit claiming the bank charged excessive overdraft fees. The final tabulation came this morning as a Miami judge considers whether to finalize a $410 million settlement during a hearing to consider any objections or other issues related to the deal reached in May. The class-action lawsuit contends the Charlotte, N.C.-based bank processed its debit card and check payments in a way that triggered more overdrafts and therefore more fees. Even though it agreed to the settlement, the bank insists the disputed overdraft system was proper. The lawsuit covers people with Bank of America debit cards between January 2001 and May 2011. New bank regulations prohibit this type of debit card fee unless customers approve.
Bank of America may face $410M overdraft settlement
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